Hum Network withdraws petition filed against MD Production

By MG News | March 22, 2019 at 12:38 PM GMT+05:00

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March 22, 2019 (MLN): Due to the inordinate delay in the matter proceeding with the High Court of Sindh regarding the Scheme of Arrangement entered into between Hum Network Limited, MD Productions (Pvt.) Limited and Humm Co. (Pvt.) Limited, the Board of Directors of Hum Network Limited have resolved to withdraw the said petition as the Company and MD Productions do not wish to pursue the same.

Furthermore, the company has been authorized to explore the feasibility of, and enter into discussion for, the potential acquisition of up to 100% of the shareholding of MD Productions, including to carry out the necessary valuation and due diligence in respect of the same.

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